Carmax Inc (KMX) Financier

CarMax, Inc. is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. The company is headquartered in Richmond, Virginia and currently employs 27,796 full-time employees. The firm operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CarMax Sales Operations segment sells used vehicles, purchases used vehicles from customers and other sources, sells related products and services, and arranges financing options for customers. The CAF segment consists solely of its own finance operation that provides financing for customers buying retail vehicles from the Company. The CAF segment also services all auto loans, it originates and is responsible for providing billing statements, collecting payments, maintaining contact with delinquent customers, and arranging for the repossession of vehicles securing defaulted loans. The company provides customers with a range of other related products and services, including extended protection plan (EPP) products and vehicle repair services.